In Marx’s view, what is the difference between labor and “surplus” labor? How is the capitalist able to extract surplus labor? | Essays Plug

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In Marx’s view, what is the difference between labor and “surplus” labor? How is the capitalist able to extract surplus labor?

May 24, 2022 | Business Finance - Economics

May 24, 2022 | Business Finance - Economics

In Marx’s view, what is the difference between labor and “surplus” labor? How is the capitalist able to extract surplus labor?

QUESTION 1

In Marx’s view, what is the difference between labor and “surplus” labor? How is the capitalist able to extract surplus labor?

QUESTION 2

Why did Marx believe that capitalism would fall on its own? Why did his predictions not come true? (hint: how has the economy changed since Marxs time?

QUESTION 3

Economists regard the labor market as a negation between buyers and sellers of labor, Does this describe what happened at Carnegies Steel Mill? How Did Herbert Spencers Social Darwinism influence Carnegies thinking?

QUESTION 4

Economists regard an ideal free market as not subject to the control of anyone.Considering his handling of the railroads and his buyout of Carnegie Steel, Would J. P. Morgan have agreed?

Week 6 11/13 Socialists, Heilbronner Ch. V, VI, PBS Documentary: The Gilded Age https://www.pbssocal.org/programs/americanexperience/the-gilded-age-nun3cr/

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